ACRES Commercial Realty (NYSE:ACR) Posts Quarterly Earnings Results, Misses Expectations By $2.44 EPS

Key Points

• ACRES Commercial Realty reported a quarterly loss of $2.26 per share, missing the consensus estimate of $0.18 by $2.44. The company posted a 5.61% return on equity and a 37.20% net margin.
• Shares rose 1.6% to $18.40 despite the earnings miss, but remain below their 200-day moving average of $19.08 and well below the 52-week high of $24.61.
• Analyst sentiment is mixed but leans toward “Hold,” with an average price target of $24.50. Recent ratings included downgrades to sell and strong sell, while insiders have sold roughly $420,000 of stock over the past three months.

ACRES Commercial Realty (NYSE:ACR - Get Free Report) released its earnings results on Wednesday. The company reported ($2.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($2.44), Zacks reports. ACRES Commercial Realty had a return on equity of 5.61% and a net margin of 37.20%.

ACRES Commercial Realty Trading Up 1.6%

ACR traded up $0.29 during trading on Wednesday, hitting $18.40. 38,447 shares of the stock were exchanged, compared to its average volume of 25,371. The firm has a 50 day simple moving average of $18.15 and a 200 day simple moving average of $19.08. The firm has a market cap of $131.21 million, a price-to-earnings ratio of 28.31 and a beta of 1.09. ACRES Commercial Realty has a 1 year low of $15.61 and a 1 year high of $24.61. The company has a debt-to-equity ratio of 3.36, a quick ratio of 164.62 and a current ratio of 164.62.

Analysts Set New Price Targets

ACR has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of ACRES Commercial Realty from a "hold" rating to a "sell" rating in a research report on Sunday, July 5th. Zacks Research downgraded ACRES Commercial Realty from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Finally, Weiss Ratings upgraded ACRES Commercial Realty from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $24.50.

Insider Buying and Selling at ACRES Commercial Realty

In other ACRES Commercial Realty news, major shareholder Eagle Point Credit Management sold 2,076 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $22.50, for a total value of $46,710.00. Following the completion of the sale, the insider directly owned 731,230 shares in the company, valued at approximately $16,452,675. This represents a 0.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 17,280 shares of company stock valued at $420,153. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of ACRES Commercial Realty

Several institutional investors and hedge funds have recently made changes to their positions in ACR. BNP Paribas Financial Markets lifted its stake in ACRES Commercial Realty by 120.2% in the third quarter. BNP Paribas Financial Markets now owns 1,354 shares of the company's stock worth $29,000 after acquiring an additional 739 shares during the period. JPMorgan Chase & Co. purchased a new position in ACRES Commercial Realty during the 2nd quarter valued at about $52,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in ACRES Commercial Realty during the 2nd quarter valued at about $60,000. MetLife Investment Management LLC bought a new stake in shares of ACRES Commercial Realty in the 4th quarter valued at about $76,000. Finally, Bank of America Corp DE raised its holdings in shares of ACRES Commercial Realty by 110.4% in the 2nd quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock valued at $66,000 after purchasing an additional 1,926 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

ACRES Commercial Realty Company Profile

ACRES Commercial Realty Corp., a real estate investment trust (REIT), focuses on the origination, holding, and management of commercial real estate mortgage loans and equity investments in commercial real estate property in the United States. It invests in commercial real estate-related assets, including floating-rate first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine financing, preferred equity investments, and commercial mortgage-backed securities.

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